February 1, 2018

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Law Firm Revenue, Profits Up in 2017: Wells Fargo Report
(DBN)

Recent Survey Shows Firms Aren't Doing Right Due Diligence on Laterals
(DBN)

Dechert Says Tech, Not Gender, Spurred Staff Layoffs • Biglaw Firm Uses Technology As A Defense In Discrimination Case
(DBN)

ABA's Law School Oversight Needs Younger Perspectives, Report Finds
(DBN)

Harvard Law School Faculty Maintain Top Position In SSRN Citation Rankings
(DBN)

T14 Law Student’s Death Ruled Drug Overdose
(DBN)

Cooley Law School wants more ABA accreditation transparency and compliance letter off web
(DBN)

Plaintiff asks for consent decree extension in LSAT ADA accommodation action
(DBN)

Being Free From Student Loans Is Not As Awesome As You’d Think
(DBN)

One Day, Law School Will Cost $100,000 Per Year
(DBN)

What Do You Want Your Legacy As A Lawyer To Be?
(DBN)

The price of legal services is increasing faster than the CPI
(DBN)

Gambling Your Law School Tuition And Legal Career Away
(DBN)

The FBI and Justice Department go on the offensive to convince Trump to oppose GOP memo release • The FBI Stands Up to Trump's Efforts to Politicize It • The plot twist in "FBI v. POTUS" • FBI says it has 'grave concerns' about accuracy of hotly debated FISA memo • FBI statement expresses ‘grave concerns’ with accuracy of secret GOP memo • The FBI just released a rare public statement warning against releasing the Nunes memo • The Dubious Legal Claim Behind #ReleaseTheMemo • FBI Director Opposes Memo Release Because of Inaccuracies • Probe is reportedly focused on ex-deputy FBI director’s apparent delay in acting on Clinton emails • Trump asked Rosenstein if he was 'on my team' • The White House lawyer who refused to fire Mueller has been a central figure in Trump's efforts to control the Russia investigation • Mueller just got another critical piece of evidence in the Russia investigation • Lawyer who drafted Nunes memo once brutally slapped by judge with ‘order of ineptitude’ • Republican memo likely to be released Thursday, administration official says • Schiff accuses Nunes of secretly changing controversial GOP memo • Nunes claims only "minor edits" made to memo • The FBI agent who sent anti-Trump texts was also behind the reopening of the Clinton email investigation • Former Trump legal team spokesman plans to tell Mueller that Hope Hicks hinted at concealing explosive emails about the Trump Tower Russia meeting • Report: Mueller to hear new claims about Trump Tower meeting response • Trump Legal Team Argues President Should Get Special Treatment in Mueller Probe
(DBN)

DOJ probing why FBI held Clinton emails for weeks before alerting Congress
(DBN)

PA: GOP Defies Gerrymandering Court Order
(DBN)

US prosecutors are throwing out the case against New Jersey senator accused of accepting bribes
(DBN)

More than 250 people come forward as victims of Larry Nassar • Feminists from 3 different generations talk #MeToo • Hillary Clinton's apology for protecting an accused abuser is so shady • An art gallery took down a Victorian painting as a response to the #MeToo movement
(DBN)

That Awkward Moment When Your Twin Brother Is A U.S. Citizen At Birth, But You’re Not… And Your Parents Sue The U.S. Government Over It
(DBN)

Taco Bell Worker Arrested For Burrito Assault On Eatery Manager
(DBN)

This Lawyer Is Dominating The Bestseller List
(DBN)

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Judges:

Ginsburg says time of ‘fierce partisanship’ will eventually pass
(DBN)

Trump praises Gorsuch and highlights judicial picks in his State of the Union speech
(DBN)

This ‘Great New Supreme Court Justice’ Is Ice Cold
(DBN)

Appellate Court ‘Swipe[s] Left’ And Reverses Decision In Tinder Discrimination Case
(DBN)

Where Are the Women Arbitrators? The Battle to Diversify ADR
(DBN)

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Wall Street:

S&P 500 poised to rise, lifted by eBay surge • US futures pause as Dow and S&P 500 see their best month since March 2016
(DBN)

Dow jumps 121 points as stocks rebound from 2-day sell-off • Stocks Close Modestly Higher Following Fed Announcement
(DBN)

Alan Greenspan says there are two bubbles, in stocks and bonds
(DBN)

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Layoffs:

The Drip, Drip, Drip Continues: Sears Lays Off 220 Employees at HQ
(DBN)

Pandora lays off 5% of its staff
(DBN)

Oilsands' Driverless Trucks to Displace 400
(DBN)

Kimberly Clark Closes 2 Wisconsin Plants
(DBN)

Ericsson cuts 10,000 jobs
(DBN)

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Politics:

Polls show a majority of people are raving about Trump's State of the Union address • These two big budget programs were missing from Trump's address • 3 winners and 2 losers in Trump’s speech • Why Democrats had 5 responses to Trump’s State of the Union • Barrack Says Trump Struck Right Tone in State of the Union
(DBN)

Trump's Approval Back at 42%
(DBN)

The head of the CDC resigns after a report said she purchased shares of a tobacco company while in office • The scandal that just forced the CDC director to resign, explained
(DBN)

Kathleen Hartnett White, Trump’s Environment Pick: Fossil Fuels Ended Slavery, CO2 Is Good for You
(DBN)

One of the most powerful Republicans in Congress just stunned the political world by announcing he will retire • Republicans have left the most powerful chairmanship in the House twice in one year
(DBN)

Trump Is Making 2018 Much Harder for Republicans • A toxic stew has House Republicans rushing to the exits
(DBN)

Democrat Rep. Bob Brady will not seek re-election
(DBN)

Rep. Hoyer: 90% chance Dems win House in 2018
(DBN)

The Upside-Down Logic of Stormy Daniels • Stormy Casts Doubt on Stormy's Stories • Stormy Daniels Issues New Denial Of An Affair With Trump . . . Then Suggests The Signature Is A Forgery
(DBN)

A Third-Party President? Good Luck
(DBN)

Forget Congress, FBI scandal proves we need term limits for federal workers
(DBN)

Conspiracy theorists are already making wild claims about the Amtrak train full of Republican lawmakers that collided with a truck in Virginia • GOP lawmakers put their medical skills to work after a deadly train crash
(DBN)

New Filing Shows Democratic National Committee is Basically Out of Money
(DBN)

ABA Legal Fact Check: When Is It Illegal for Foreign Nationals to Influence U.S. Elections?
(DBN)

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Personal Finance:

7 common interview questions that are difficult to answer—and how you should respond
(DBN)

The Richest Person In Every State Right Now
(DBN)

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Maritime:

Rand Logistics Files for Chapter 11 Bankruptcy Protection
(DBN)

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Autos:

Toyota recalls 645,000 cars over flawed air bag system
(DBN)

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Marijuana:

January was the biggest month yet for marijuana legalization
(DBN)

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Electricity:

S.C. House passes bill to halt nuclear-related payments to SCE&G, possibly dooming Dominion takeover
(DBN)

Want to quit paying for nuclear fiasco? Second study needed first, regulators say
(DBN)

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Art:

Broadway 1602, Celebrated Contemporary Art Gallery With a Cult Following, Files for Bankruptcy
(DBN)

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Currency:

South Korea says it has no plans to shut down cryptocurrency trading
(DBN)

The bitcoin bubble: People are buying Bitcoin because they expect other people to buy it from them at a higher price. This is foolish
(DBN)

Bitcoin trader after a discussion with his accountant: ‘F--- taxes’
(DBN)

Bitcoin drops below $10,000 — again
(DBN)

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Food/Beverage:

Latest Restaurant Performance Index Registers Gain
(DBN)

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Pharma:

Drug firms shipped more than 20 million pain pills to Williamson, a town of 2,900 in West Virginia
(DBN)

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Economy:

Private payrolls jump by 234,000, blowing past expectations: ADP • ADP: Private Employment increased 234,000 in January
(DBN)

Fed holds interest rates at Yellen's last meeting as chair, sees inflation picking up • FOMC Statement: No Change in Policy • Treasury yields tick higher as the Fed says it sees inflation picking up • Interest rates have been manipulated by the Fed for 'far too long' says ex-Wells Fargo CEO • The Fed's Dilemma Isn't Going Away Under Powell
(DBN)

The Fed could be about to rattle the stock market
(DBN)

Gov't Borrowing to Hit an Eight Year High
(DBN)

Pressure Rises on Congress to Raise Debt Ceiling in Coming Weeks
(DBN)

U.S. Raises Longer-Term Debt Sales as Budget Deficit Worsens
(DBN)

Tax Law: Gov't to Run Out of Money Soon
(DBN)

Janet Yellen's departure from the Fed is a huge loss for anyone who cares about unemployment
(DBN)

Republicans are winning the war over the tax law • Will Trump's Tax Reform Stumble on State Level Burdens? • Survey: US Tax Reform Could Provide Modest Boost to Growth • Boeing Says New GOP Tax Law Slashed $1B From Income Taxes • The GOP tax law unintentionally created the potential for a huge disaster if Congress doesn't act • Twinkie Maker's Response to the Trump Tax Overhaul: Free Snacks • Middle America Already Winning Big From Tax Plan As Lowly Workers Get Free Hos And All-You-Can-Eat Dongs • Corporate Tax Cuts Are Raising Pay Of Bosses, Not Workers
(DBN)

Why the GOP Doesn't Care About Deficits
(DBN)

Coming for Social Security, Medicare Next
(DBN)

How financial markets performed during the Yellen Fed years
(DBN)

Pay gains during Trump's first year in office are the best since the Great Recession
(DBN)

The size of your tax refund depends on where you live — here's how much the average person gets back in every state
(DBN)

Trump's giant $1.5 trillion infrastructure plan looks dead on arrival • Trump raises the stakes on infrastructure • 10 US states most in need of Trump's $1.5 trillion infrastructure plan • So Much for a Bipartisan Infrastructure Deal • The Odds of Fixing U.S. Infrastructure Just Got Better • US should hike the gas tax to help fix crumbling roads, says ex-GM vice chair
(DBN)

Ken Rogoff on the next financial crisis and the future of bitcoin
(DBN)

Democrats try to rain on Trump's economic victory lap
(DBN)

Bank Card Default Rate Continues to Increase
(DBN)

Trump cites 401(k) gains in speech, yet most workers don't have one
(DBN)

Mnuchin Has Some Explaining to Do
(DBN)

How GE Went From American Icon to Astonishing Mess
(DBN)

Commute costs form a daily struggle for many Americans
(DBN)

Millions of young adults have entered the workforce with no more than a high school diploma
(DBN)

Many Say Government Does Too Little for Older People, the Poor and the Middle Class
(DBN)

More adults now share their living space, driven in part by parents living with their adult children
(DBN)

Human Population Growth Over All of History
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

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Real Estate:

Pending home sales eke out gain in December as supply hits record low • NAR: Pending Home Sales Index Increased 0.5% in December, Up 0.5% Year-over-year
(DBN)

MBA: Mortgage Applications Decrease in Latest Weekly Survey
(DBN)

RMS Parent’s Bankruptcy Proceedings Hit Delay • Walter Investment will stay in bankruptcy a little longer than expected
(DBN)

Airbnb is making rents in New York City spike as owners yank units off the market, study finds
(DBN)

Single-Family Mortgage Serious Delinquency Rates Since 1998
(DBN)

States with Highest and Lowest Property Taxes
(DBN)

'Jared Kushner Act' aims to curb use of arrests for debts in Maryland
(DBN)

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Municipalities:

FEMA is 'officially shutting off' hurricane aid to Puerto Rico, but the US territory is still devastated — here's what it looks like on the ground • U.S. agency says will keep providing water, other essentials in Puerto Rico
(DBN)

Puerto Rico Says Energy Assets May Fetch Up to $4 Billion
(DBN)

Judge in Puerto Rico case strikes down two bondholder challenges
(DBN)

Arroyo Grande facing bankruptcy in five years
(DBN)

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Oil/Gas:

Oil market on brink of correction, warns the man who called the 2015 crude collapse • Oil slips for third day • Oil stockpiles jump, raising worries about surging U.S. production • U.S. Reaches Oil-Output Milestone Months Earlier Than Expected
(DBN)

US oil production tops 10 million barrels a day for first time since 1970
(DBN)

North Dakota's shale oil fields are stronger than ever, says drilling pioneer Harold Hamm
(DBN)

Uresti routinely bounced checks, prosecutors allege
(DBN)

Shell quarterly profit jumps 140% after 'a year of transformation' • Shell profit triples, but cash flow disappoints
(DBN)

California May See Return of $4 Gasoline
(DBN)

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Healthcare:

$170,000 advance ordered to help nursing home meet payroll
(DBN)

Unnecessary Medical Care is Quite Common
(DBN)

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Newspapers:

Herald, unions reach deal over bankruptcy sale
(DBN)

Former paper boy responds to Charleston Gazette-Mail bankruptcy
(DBN)

Judge delays ruling on bidding process for Gazette-Mail
(DBN)

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Education:

Bidding for Dowling's Brookhaven campus tops out at $10.2M
(DBN)

How one of Georgia’s first HBCUs fell into bankruptcy
(DBN)

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Biofuels:

With South Philadelphia refinery in bankruptcy proceedings, neighbors see an opportunity for cleaner air
(DBN)

Refiner Bankruptcy Boosts Bid to Solve Trump's Biofuel Problem
(DBN)

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Retailing:

The Bon-Ton Stores, Inc. Announces Locations of Store Closures • Debt Load Could Force More Bon-Ton Store Closures or Bankruptcy Filing
(DBN)

Toys R Us Ch. 11 Landlord Deal Could Be Model For Retailers • Can Power Center Landlords Handle Toys ‘R’ Us’ Retreat? • Toys “R” Us Bankruptcy Could Risk $500M in CMBS
(DBN)

'Seeing someone cry at work is becoming normal': Employees say Whole Foods is using 'scorecards' to punish them • Whole Foods is creating a crisis that's choking its business
(DBN)

Cities that lure Amazon with incentives may be getting a 'bad bargain,' new study says
(DBN)

Stein Mart exploring 'strategic alternatives'
(DBN)

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Solar:

White House to propose deep 72% cuts to wind and solar energy research programs
(DBN)

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Bankruptcy Crimes:

Hershey man pleads guilty to bankruptcy fraud
(DBN)

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Media:

Freedom of the Press Foundation will preserve Gawker’s archives
(DBN)

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Amusement Parks:

Schlitterbahn Corpus Christi won't be auctioned, but it is for sale
(DBN)

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Television:

Fox Seeks to Dismiss $240 Million Lawsuit by 'American Idol' Lenders
(DBN)

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New Bankruptcy Opinions
(9 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings (19 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (76 new filings today)
(DBN)

Bankruptcy Code (html) - Bankruptcy Code (pdf) • Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Bankruptcy Jobs:

(1) • (2) •(3) •(4)• (5) •(6) •(7) •(8)
(DBN)

Seminars - (Contact us to list your seminar)

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Valuation:

BK ND CA: Updated Guidelines For Valuing Collateral
(DBN)

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Avoidance Actions:

Split Third Circuit Holds Transfer By Non-Debtor Cannot Be Fraudulent Transfer
(DBN)

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DIP Finance:

Moody's proposes update to its methodology for debtor-in-possession lending
(DBN)

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Insurance:

Patriot National Initiates Restructuring Files Pre-Arranged Chapter 11 • Patriot National: A Look Inside The Numbers • New Delaware Chapter 11 Filing – Patriot National, Inc.
(DBN)

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SCOTUS:

Supreme Court to Tackle Fraud Exception in Lamar, Archer & Cofrin, LLP v. Appling
(DBN)

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Sales:

Sale Free and Clear of Lease: The Battle Between Section 363 and Section 365
(DBN)

“All Sales Final”: First Circuit Defends Bankruptcy Sale Against Spurned Bidder Attack
(DBN)

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Jurisdiction:

Long Arm Jurisdiction? Foreign Counsel May Not Be Sanctioned Absent Personal Jurisdiction
(DBN)

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Cross-Border:

Takata's Japanese Bankruptcy Case Survives Public Policy Objection
(DBN)

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Venue:

A First Look at the Proposed Bankruptcy Venue Reform Act of 2017
(DBN)

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Fiduciary Duty:

Haggen’s Order Holds: Fiduciaries who enter into “foolish” transactions but who are acting in good faith are protected
(DBN)

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Proofs of Claim:

Revised Bankruptcy Rule 3002 – Changes Affecting Proofs of Claim
(DBN)

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IP:

First Circuit Bucks Developing Trend; Favors Trademark Owners Over Their Licensees in Bankruptcy
(DBN)

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Notice:

How Much Notice is Enough?
(DBN)

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Corporate Reform:

Consumer protection bureau structure upheld in blow to Trump's deregulation efforts • Full DC Circuit upholds structure of Consumer Financial Protection Bureau • Court Rules Against Trump’s Power To Fire: Is This A Sign Of Things To Come? • Court Ruling on CFPB Director Deals Blow to Trump Administration
(DBN)

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Hotels:

Prime Hotel Site in NoMad Headed to Bankruptcy
(DBN)

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Weather:

Insurance claims from California wildfires near $12 billion
(DBN)

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Travel:

PSA: If you're flying, leave your emotional support peacock at home
(DBN)

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Coal:

Trump’s perennial “war on coal” claim, fact-checked
(DBN)

Utility CEO: new renewables will be cheaper than existing coal plants by the early 2020s
(DBN)

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UK:

Toys R Us UK future in fresh doubt as US parent hunts buyer
(DBN)

Agrokor: Croatian extraordinary administration proceedings recognized under UK’s Cross Border Insolvency Regulations in landmark decision
(DBN)

KPMG chairman defends "proper" Carillion audit
(DBN)

Russian transportation and logistics conglomerate FESCO PLC restructures its Eurobonds using an English Scheme of Arrangement
(DBN)

Byron burger chain sees CVA approved • Burger chain Byron poised to shut down 20 restaurants
(DBN)

Academy system heading for 'insolvency' as more schools beg from parents
(DBN)

Ukip facing bankruptcy within weeks thanks to £650,000 bill over defamation case
(DBN)

Britain's looming political crisis could force companies out of the UK
(DBN)

Jaguar Land Rover Makes More Cuts
(DBN)

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PIIGS:

No way I will 'even consider' an EU referendum for Italy, says euroskeptic leader Di Maio
(DBN)

Five Star Leader Vows to Help Italian Banks Grab Creditor Assets
(DBN)

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Canada:

Top Insolvency Cases and Highlights from 2017 – Part 1
(DBN)

Canada is one of only 19 countries with a “full” democracy, US not on list
(DBN)

Suing Is Canada's New Asset Class as Investors Bet on Claims
(DBN)

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Australia:

Surprise payout for Ten's key creditors
(DBN)

Seasoned Restructuring Veteran Joins Houlihan Lokey in Sydney
(DBN)

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India:

Insolvency : Bidders may not be able to sell stressed assets for 5 years
(DBN)

Buyers losing out in insolvency proceedings: SC • Bidders in a fix after Insolvency and Bankruptcy Code Amendment
(DBN)

India's banks have a bad loan problem, but financial experts still see opportunity
(DBN)

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Belgium:

Reform of the insolvency law - Part 1 - To an extended application
(DBN)

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China:

Bankrupt Steelmaker's Listed Unit Fesses Up to Phony Figures
(DBN)

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Switzerland:

Cross-Border Insolvency: New Developments in Switzerland
(DBN)

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